National Fertilizers Ltd. (NFL) AI Stock Analysis

• Market Cap: ₹35.92B
• Dividend Yield: 1.77%
• Average Volume (3M): 41.73K
• Price to Earnings (P/E): 19.5
• Beta (1Y): 1.90
• Revenue Growth: -7.78%
• EPS Growth: -70.89%
• Country: IN
• Employees: 2,739
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Agricultural Inputs
• EPS (TTM): 2.76
• Shares Outstanding: 490,578,400
• 10 Day Avg. Volume: 43,953
• 30 Day Avg. Volume: 41,728
• PEG Ratio: 0.99
• Price to Book (P/B): 1.50
• Price to Sales (P/S): 0.21
• P/FCF Ratio: 1.70
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: ₹71.00 ▼(-22.60% Downside)
• Action: Reiterated Date: 11/26/25
• Date: Action: Reiterated 11/26/25

National Fertilizers Ltd. faces significant challenges, with financial volatility and bearish technical indicators being the most impactful factors. The high P/E ratio suggests overvaluation, and while there are signs of financial recovery, the overall outlook remains cautious.

Positive Factors

Cash Flow Improvement

Improved operating cash flow enhances liquidity, providing the company with more flexibility to manage operations and invest in growth opportunities.

Robust Distribution Network

A strong distribution network supports consistent revenue generation and market penetration, crucial for sustained growth in the agricultural sector.

Product Portfolio Expansion

Expanding into bio-fertilizers and agro-based products aligns with sustainable agriculture trends, potentially driving long-term revenue growth.

Negative Factors

High Financial Leverage

High financial leverage can strain the company's financial health, limiting its ability to invest in growth and manage economic downturns.

Volatile Revenue Base

Revenue volatility undermines financial stability, making it challenging to plan long-term investments and growth strategies.

Fluctuating Profit Margins

Inconsistent profit margins can impact the company's ability to reinvest in its business and maintain competitive pricing strategies.

National Fertilizers Ltd. Business Overview & Revenue Model

Company Description

National Fertilizers Limited engages in the production and marketing of urea products, industrial products, and bio-fertilizers in India. It operates through Own Fertilizers, Fertilizers Trading, and Other Products & Services segments. The company offers Kisan urea for various types of crops, as well as for foliar sprays; neem coated urea and bentonite sulphur products; bio-fertilizers, including rhizobium, phosphate and zinc solubilizing bacteria, and azetobactor that are used to supplement chemical fertilizers, as well as to maintain soil fertility; and industrial products comprising nitric acid dilute, ammonium nitrate, anhydrous ammonia, and sodium nitrite and nitrate under the KISAN brand name, as well as certified seeds under the Kisan Beej brand name. It also trades in compost products; and agrochemicals/pesticides comprising insecticides, herbicides, and fungicides, as well as potassium chloride, diammonium phosphate, and nitro phosphate. National Fertilizers Limited was incorporated in 1974 and is based in Noida, India.

How the Company Makes Money

National Fertilizers Ltd. generates revenue primarily through the sale of its fertilizer products, especially urea, which is subsidized by the Indian government. The company benefits from a robust distribution network that ensures its products reach farmers effectively. Key revenue streams include direct sales to farmers, contracts with wholesalers and retailers, and government supply agreements. NFL also engages in exports to international markets, enhancing its revenue. Strategic partnerships with agricultural cooperatives and government initiatives aimed at boosting food production further contribute to the company’s earnings. Additionally, NFL's initiatives in producing bio-fertilizers and other agro-based products are expected to open up new revenue avenues in the sustainable agriculture sector.

National Fertilizers Ltd. Financial Statement Overview

Summary

National Fertilizers Ltd. is experiencing financial volatility with some recovery signs. The income statement shows fluctuating profits, the balance sheet indicates high leverage but stable equity, and cash flow improvements suggest better liquidity management.

Income Statement

National Fertilizers Ltd. has faced challenges in maintaining a stable revenue base, with recent years showing significant volatility in total revenue. The company has struggled with profitability, as indicated by fluctuating net profit margins and negative gross profits in some years. However, the most recent year shows a slight recovery in net income, which is a positive sign.

Balance Sheet

The balance sheet shows a moderate level of stability with a consistent stockholders' equity position. However, the debt-to-equity ratio is relatively high, indicating potential financial leverage risks. Nevertheless, the equity ratio remains stable, suggesting some resilience in the company's asset financing structure.

Cash Flow

Cash flow analysis indicates an improvement in operating cash flow in the most recent year, which is promising for liquidity. The company has managed to generate positive free cash flow after a period of negative cash flows, enhancing its cash position. However, cash flow from investing and financing activities signals caution in capital allocation and debt management.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	182.37B	197.94B	235.60B	71.17B	49.08B	46.75B
Gross Profit	35.44B	25.63B	-142.92B	-202.85B	-85.58B	-44.52B
EBITDA	7.41B	8.10B	8.02B	12.70B	6.16B	9.31B
Net Income	1.53B	1.84B	1.50B	4.58B	-951.20M	2.37B
Balance Sheet
Total Assets	0.00	93.11B	112.06B	125.34B	104.94B	84.12B
Cash, Cash Equivalents and Short-Term Investments	327.80M	1.42B	299.30M	132.10M	258.20M	393.30M
Total Debt	0.00	20.01B	40.91B	39.93B	31.72B	18.92B
Total Liabilities	-27.16B	65.95B	86.51B	99.92B	84.47B	62.72B
Stockholders Equity	27.16B	27.16B	25.54B	25.42B	20.47B	21.40B
Cash Flow
Free Cash Flow	0.00	23.86B	3.76B	-5.41B	-13.26B	66.03B
Operating Cash Flow	0.00	25.90B	6.68B	-3.33B	-10.29B	70.21B
Investing Cash Flow	0.00	-2.68B	-3.34B	-2.06B	-1.29B	-4.97B
Financing Cash Flow	0.00	-23.34B	-3.18B	5.26B	11.45B	-65.05B

National Fertilizers Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 91.73
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NFL, the sentiment is Negative. The current price of 91.73 is above the 20-day moving average (MA) of 79.14, above the 50-day MA of 82.60, and above the 200-day MA of 91.68, indicating a bearish trend. The MACD of -1.67 indicates Positive momentum. The RSI at 30.66 is Neutral, neither overbought nor oversold. The STOCH value of 15.42 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:NFL.

National Fertilizers Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GNFC	70 Outperform	₹64.82B	10.73	―	3.68%	-7.53%	42.74%
GSFC	68 Neutral	₹65.69B	9.72	―	2.80%	15.25%	26.49%
RCF	62 Neutral	₹66.95B	22.33	―	0.93%	-3.19%	59.25%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
MADRASFERT	48 Neutral	₹10.35B	146.03	―	―	3.38%	0.68%
NFL	45 Neutral	₹35.92B	19.46	―	1.77%	-7.78%	-70.89%

National Fertilizers Ltd. Corporate Events

National Fertilizers Sets Board Meet for Q3 FY26 Results, Extends Trading Window Closure

National Fertilizers Limited has scheduled a meeting of its Board of Directors in Noida on 13 February 2026 to consider, approve and record the standalone and consolidated unaudited financial results for the quarter ended 31 December 2025, following review by the Audit Committee. In line with SEBI’s insider trading regulations and the company’s code of conduct for designated persons, the trading window for insiders, designated employees and their immediate relatives, which had been closed from 15 January 2026, will remain shut until 15 February 2026, covering the period around the board meeting and results announcement to prevent any potential misuse of unpublished price-sensitive information.

National Fertilizers Announces Share Transfer to IEPF and Special Re-lodgement Window

National Fertilizers Limited has announced the transfer of equity shares to the Investor Education and Protection Fund (IEPF) for shares with unpaid dividends for seven consecutive years, as per the Companies Act, 2013. Additionally, a special window for re-lodgement of transfer requests for physical shares has been opened, providing an opportunity for shareholders to address previously unprocessed requests, which could impact shareholder engagement and compliance with regulatory frameworks.

National Fertilizers Opens Special Window for Share Transfer Requests

National Fertilizers Limited has announced a special window for the re-lodgement of transfer requests for physical shares, applicable from July 7, 2025, to January 6, 2026. This initiative is in response to a SEBI circular and aims to assist shareholders whose transfer requests were previously unprocessed or missed deadlines. Additionally, the company has notified shareholders about the transfer of unclaimed dividends and shares to the Investor Education and Protection Fund if not claimed by February 28, 2026, impacting stakeholders who need to act promptly to secure their investments.